The Chinese market – a huge consumption potential waiting to be unleashed

The key takeaway from China’s recent major official conferences is growth. Growth will be the focus of China’s economic agenda for 2023. Among many measures that the Chinese government is about to take, a significant focus has been placed on consumption. As an increasing number of Chinese people aspire to a better life, the Chinese government has let consumption take a leading role in China’s economic growth.

What are the future drivers of China’s consumption growth?

  1. “Consumption upgrade” trend, towards wellness, digital technology and local brands.
  2. A stronger and larger middle class. No other country has seen such an annual expansion in its middle class as China.
  3. High savings to be translated into big consumption potential. Instead of “live in the moment”, what most Chinese people do, wealthy or not, is “save for tomorrow”.
  4. Re-opening, which could boost Chinese’ willingness to consume thanks to the recovery of physical interactions and income expectations.

Investment opportunities driven by huge consumption potential exist in both growth and mature sectors. Housing improvements, new energy cars and elderly services represent the future emphasis as they correspond to the long-term challenges that China face in its economic transition. Opportunities can also be found in mature consumption sectors where competition landscapes have improved with leaders able to consolidate market shares and increase margins. ​

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ODDO BHF AM The Chinese market

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Gunther De Backer

Gunther De Backer

Partner, Backstage Communication

About ODDO BHF Asset Management

With €54 bn assets under management as of December 31, 2022, and 4 investment centres based in Paris, Düsseldorf, Frankfurt, and Luxembourg, ODDO BHF AM is a leading asset manager in Europe and part of the Franco-German financial group ODDO BHF that was founded in 1849. It comprises ODDO BHF AM GmbH in Germany, ODDO BHF AM SAS and METROPOLE Gestion in France, and ODDO BHF AM Lux in Luxembourg. ODDO BHF AM offers investment solutions in equities, fixed income, asset allocation, private equity and private debt to institutional clients and distribution partners. ESG integration, exclusions and active ownership are the 3 pillars of our sustainability strategy recognized for its quality and reliability through the labelling of our funds by independent bodies, and the awards obtained. ODDO BHF AM relies on a strong local presence in major European cities and in-depth knowledge of the markets in which the management company invests. ODDO BHF AM’s investment style is characterized by an active and long-term investment approach with the aim to create long-term and sustainable value for its customers. To do so, ODDO BHF AM has been integrating ESG (environmental, social and governance) criteria into its investment processes for more than ten years. Accordingly, clients have access to a wide range of sustainable financial solutions across all asset classes.

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Over ODDO BHF AM

ODDO BHF AM is part of the independent Franco-German financial group ODDO BHF that was founded
in 1849. ODDO BHF AM is an asset management leader in Europe. It comprises ODDO BHF AM GmbH
in Germany, ODDO BHF AM SAS and ODDO BHF Private Equity SAS in France and ODDO BHF AM
Lux in Luxembourg, which together manage assets totaling € 58.4 billion. ODDO BHF AM offers its
institutional and wholesale clients a unique range of high-performance investment solutions in all main
asset classes, i.e. fundamental and thematic equities, quantitative equities, fixed income, multi-asset
solutions, private equity and private debt. A UN-PRI signatory since 2010 ODDO BHF AM has integrated
sustainable investment criteria into a wide range of strategies. Its ESG approach focuses on ESG criteria
integration, engagement with companies and a climate policy supporting the energy transformation. On
a combined basis, 61% of assets under management are from institutional clients and 39% from
distribution partners. The teams operate from investment centers in Dusseldorf, Frankfurt, Paris and
Luxembourg with additional locations in Milan, Geneva, Zurich, Madrid, Stockholm and Abu Dhabi.
ODDO BHF AM puts the long-term support of its clients at the heart of its priorities. Its independence
allows its teams to be responsive, flexible and innovative in order to constantly find solutions tailored to
the customers’ needs.

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